IoT makes product usage more transparent than ever. It provides manufacturers with precise data about what they can do to optimise their products and tailor them to what the customer really wants. It is so easy now to enrich the digital customer experience with additional services such as upgrades, add-ons or proactive support.

IoT isn’t just making products smarter. The related processes are becoming more intelligent, too. After all, the data gathered via IoT delivers valuable insights into the users themselves, and how they interact with the product. With this knowledge in hand, it’s both quick and easy to optimise production, logistics and service becomes quick and easy.

It’s never been simpler to integrate digital services into existing ecosystems and to enhance them from there. IoT upgrades products by offering predictive maintenance, field service and digital appliance management, all of which make for a much more satisfying customer experience.

IoT opens up new revenue opportunities, be they upgrades, fee-based additional features, subscription models or pay-per-use. Establishing an IoT ecosystem presents new ways of working with strategic partners and generates innovative, sustainable sales opportunities.